India's incumbent Prime Minister Narendra Modi and his pro-business Bharatiya Janata Party are widely expected to win the ongoing elections, but that doesn't mean investors should consider buying iShares MSCI India ETF (INDA), which is the largest and most-liquid India focused fund. That's because the ETF's underlying holdings have risen substantially in the run-up to the elections and the valuation doesn't look compelling anymore. Besides, the country is facing some headwinds. I believe investors should steer clear of the iShares MSCI India ETF for now.
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